Cable group to sell mobile spectrum to Verizon for $3.6 billion

SpectrumCo, a joint venture among Comcast, Time Warner Cable and Bright House Networks, has agreed to sell mobile spectrum licenses covering 259 million U.S. residents to Verizon Wireless for $3.6 billion, the companies announced Friday. The deal, for 122 Advanced Wireless Services (AWS) licenses, will give Comcast $2.3 billion and Time Warner $1.1 billion, based on their ownership stakes in SpectrumCo. The joint venture paid $2.4 billion for 137 AWS licenses in a 2006 auction at the U.S. Federal Communications Commission.

Source: http://www.infoworld.com/d/the-industry-standard/cable-group-sell-mobile-spectrum-verizon-36-billion-180714

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